Epayblock | FinTelegram News

Tag: Epayblock

April 14, 2022

Regulated Estonian crypto payment processor Isunext vanished?

Isunext is the trading style of the crypto payment processor XFinances OÜ, registered and licensed as a crypto payment processor in Estonia by the FIU as the competent regulator. The beneficial owners of XFinances OÜ are the Latvians, Pavels Krasovskis and Rooba Urmas. The company is a part of the so-called Latvian Racket and has facilitated scams like XFinances, eXFinances, or Zurich Invests. For several days now, the company's website has been unavailable. Visitors receive the error code 523.

December 21, 2021

Urgent warning against Sky Financial Services fund recovery scam!

The fund recovery scam Sky Financial Services and currently sends emails informing individuals that they found funds that would belong to them. In an email obtained by FinTelegram, Sky Financial Services writes in very poor German that it has been authorized by the regulator of Epayblock, the Bank of Lithuania, to return client funds allegedly held in Epayblock accounts. However, before that, copies of an ID card and utility bill would have to be sent, and a deposit would have to be made. Please do not fall for it.

November 23, 2021

Bravo! Lithuanian regulator follows FinTelegram and revokes license of Epayblock!

FinTelegram has issued several warnings against the notorious scam and cybercrime facilitator Epayblock, an e-Money Institution regulated by the Bank of Lithuania (BoL). Finally, the regulator announced that it revoked the license of Epayblock due to money laundering issues. The regulator said that it received complaints and information about Epayblock customers potentially using its services for fraud. It initiated the investigation and obtained court permission to apply temporary restrictions on the provision of services to its customers.

September 27, 2021

R4I – Regulated Lithuanian high-risk payment processor Trustcom Financial

Trustcom Financial has continuously appeared on our scam radar as a payment processor over the past few years. Scam operators have been directing deposits from their victims to Lithuanian companies with their bank accounts at Trustcom. While the Bank of Lithuania regulates Trustcom Financial UAB with authorization code LB000438, it is an Italian venture controlled by Michele Scognamiglio. The close relationship with the Georgian tax advisor Business Service Distribution LLC (BSD) is of utmost interest. We want to know more about the Trustcom group and BSD.

August 3, 2021

Breaking News – Lithuanian Epayblock under investigation with restricted activities

Finally! The Bank of Lithuania (BoL) today announced that it launched a probe into scam-facilitating Epayblock. It was about time! We informed the public and the regulator time and again about the bad activities of this Polish-Lithuanian e-Money Institution. In its investigation, BoL will check possible breaches of money laundering and terrorist financing prevention. Epaybank's activities will be partially restricted during the investigation. BoL said that it received information that some of Epayblock's customers may be using its services for fraudulent purposes. Sure they do!

May 21, 2021

Interesting German-Lithuanian Compliance Dispute about Wirecard and fintech regulation

The spot is on Lithuania! The Financial Times reported that German prosecutors suspect that more than €100M was stolen from Wirecard via the licensed Lithuanian Finolita Unio. Via this fintech, at least €35M was said to have flowed to fugitive ex-Wirecard executive Jan Marsalek and another €65M to the now insolvent company oCap (previously Senjo Trading) in Singapore. Both Finolita Unio and oCap are part of the Senjo Group, one of Wirecard's most important partners in Asia, and received a loan of €350M from the latter. Finolita Unio CEO Danas Oliskevicius rejects the accusations and blames the German BaFin.

April 29, 2021

Polish-Lithuanian Epayblock again exposed as a scam-facilitating payment processor

Time and again! Recently, brought a Request 4 Information (R4I) regarding the regulated Lithuanian e-Money Institution Epayblock. This payment processor has been exposed as a partner of illegal payment processors such as Skylas, Merelita, Ristema, or BDIKA, which are involved in broker scams. These companies launder money through their bank accounts at Epayblock. Today, we discovered the Hungarian Dot Systems KFT, another illegal payment processor being a client of Epayblock.

March 28, 2021

Regulated Lithuanian scam-facilitator Epayblock lost two top managers

We brought a Request 4 Information (R4I) regarding Epayblock a few days ago because we want to know more about the e-Money institution regulated by the Bank of Lithuania with authorization code LB001911. The reason for this R4I was that illegal Lithuanian payment providers such as Skylas, Merelita, or Ristema are involved in currently active broker scams. These companies launder money through their bank accounts at Epayblock. Upon our R4I, we received the information that two top managers had already left the company several months ago.

March 26, 2021

R4I – Epayblock, illegal payment processor clients, and money-laundering

Amid the hype of binary options, CFDs, and crypto trading, many FinTech entrepreneurs have picked up e-Money Institution licenses in Lithuania. Like Eyal Nachum with his Bruc Bond and International Fintech. Well, they lost the license and went to Singapore. However, MoneyNetint Group and its GlobalNetInt are still there; regulated! Most recently, Epayblock caught our attention because it is repeatedly involved in broker scams as a payment processor. We would like to know more about Epayblock.

August 5, 2020

Broker scams LincolnFX, ZurixCorp, and its payment processors

The UK watchdog FCA and the Spanish regulator CNMV issued investor warnings against the scam broker LincolnFX operated by Lincolnfx.capital Ltd. It's still online on August 5, 2020. The FinTelegram Research team has received documents from some of the scam's victims and thus has taken a closer look. Consequently, facilitating payment processors like Plus Exchange or Titan Payments as well as interesting connections have been identified.

August 5, 2020